By Emily Chasan
NEW YORK, May 2 (Reuters) - U.S. stock futures pointed to a higher market open on Tuesday as stronger-than-expected earnings reports from companies, including insurer St. Paul Travelers Cos. (STA.N: Quote, Profile, Research) and Sirius Satellite Radio Inc. (SIRI.O: Quote, Profile, Research), offset worries about rising interest rates.
Shares of Verizon Communications (VZ.N: Quote, Profile, Research), one of the world's largest telephone companies, rose nearly 1 percent on the Inet electronic brokerage after the company posted earnings slightly above estimates, excluding unusual items. For details, see [ID:nN02235138]
"Earnings are important, obviously, because we really don't have a ton of economic data today," said Brian Williamson, vice president of equity trading at The Boston Co. Asset Management.
"It's a delicate balance, but if the earnings are good, it's a positive balance against higher rates."
Investor fears about rising interest rates were reignited on Monday after a report on CNBC television quoted Federal Reserve Chairman Ben Bernanke as saying some people had the incorrect impression that he was somewhat mild on inflation after congressional testimony last week.
The report prompted a sell-off in stocks and bonds late Monday.
Standard & Poor's 500 futures <SPc1> were up 4.9 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.
Dow Jones industrial average futures <DJc1> were up 35 points, and Nasdaq 100 <NDc1> futures were up 7 points.
St. Paul posted a higher-than-expected quarterly profit and raised its 2006 forecast. [ID:nN02220006].
Shares of Sirius rose 5.8 percent on Inet to $4.89 after the company posted a narrower-than-expected quarterly loss. [ID:nN02231550]
Of S&P 500 companies that have already reported earnings this quarter, about 71 percent beat analysts' forecasts, according to Reuters Estimates.
Oil and commodity prices were also rising on Tuesday, which could help materials stocks, especially after stocks in those sectors traded higher in Europe, analysts said. U.S. June crude <CLc1> rose 0.6 percent at $74.14 a barrel, on continued supply worries.
On the economic front, automakers are expected to release April auto sales later on Tuesday. Economists expect an increase in sales from the previous month.
DJIA | NASDAQ | S&P 500 |
+35.00 | +7.75 | +5.60 |
11402.00 | 1700.75 | 1313.80 |
futures sind kräftig im Grünen Bereich. Das gibt nette Eröffnungsgaps!
Beste Grüße vom Gesellen 
